Rally Rewards FAQs
Info on Rally Rewards program (also referred to as Rewards V3).
Rally Rewards, previously referred to as Community Activity Rewards, is an incentive program designed to reward Creators and communities who are actively participating in Rally and contributing to healthy token economies. It was launched in October 2020 and has evolved based on community feedback and metrics. Rally Rewards are currently on Rewards V3 in terms of updated calculations and eligibility guidelines. For more about the previous iterations of the Rewards program (V1 and V2), read more here.
Rally Rewards are calculated in two different steps:
- 1.Coin Economy Reward Calculation: the amount of weekly $RLY rewards a Coin economy earns
- 2.Individual Wallet Calculation: an individual’s share of a Coin economy’s weekly $RLY rewards
Eligible Coins will earn rewards, and the amount of rewards per Coin will be calculated based on the square root of the coin’s RLY backing divided by the sum of the square root of each coin’s RLY backing.
Numerator: Square root of a Coin’s $RLY backing
Denominator: Sum of the results of the above calculation for all Coins eligible for earning rewards.
= Output (a Coin’s share of daily $RLY rewards)
Once you have the “Output” above, multiply by the total $RLY Rewards for that week to get the total $RLY Rewards for that Coin:
Total Daily RLY rewards allocated * Coin’s share of daily rewards = $RLY Rewards for a Coin
By changing the calculation from the four-week moving average of $RLY backing to the above formula, this enables more Coin economies to receive rewards on a consistent basis and benefits Coins who have wide participation from their community.
Assume we have 4 coins. $Coin1, $Coin2, $Coin3, $Coin4
Assuming total $RLY Reward for that week is 700 $RLY:
As shown above, based on the total $RLY Reward for that week being 700 $RLY, $Coin1 coin reward would be 700 * (10 / 70) = 100 $RLY
After that initial determination of total reward amount for a given Coin, individual rewards will be assigned based on the percentage of Coin holdings on a daily basis. This is unchanged from the current system.
For example, if $X Coin has earned 100 $RLY for that day and you own 20% of the total circulating supply of $X Coin, you would receive 20 $RLY for that day.
You can calculate this percentage by looking at your total Coin holdings and the total circulating supply.
One main difference between V2 and V3 is how we determine eligibility. We no longer determine if a Coin is eligible for Rewards by looking at the 4-week moving average. Eligibility is now determined by a combination of activity metrics that indicate a healthy Coin economy. We made this change based on Creator feedback.
The other main difference is how we determine the share of Rewards earned by each Coin. In Rewards V2 we determined the share by square rooting the growth in RLY of a Coin. In Rewards V3, we simply square root a Coin’s overall RLY backing. This means that the share of a Coin’s rewards is now determined by overall economy size, not the change in economy size.
The new Rewards V3 calculation was turned on Saturday 7/9 at 5pm PST. The first $RLY Reward claim will be distributed on Monday 7/18 morning.
You can read more about Rewards V3 here but the new calculation is meant to distribute more consistent rewards to Coin communities rather than the inconsistent Rewards distribution most Coin communities were experiencing under Rewards V2. For example (numbers below are illustrative only):
- Week 1: 4,000 $RLY Rewards
- Week 2: 0 $RLY Rewards
- Week 3: 0 $RLY Rewards
- Week 4: 0 $RLY Rewards
- TOTAL = 4,000 $RLY Rewards
- Week 1: 1,250 $RLY Rewards
- Week 2: 1,250 $RLY Rewards
- Week 3: 1,250 $RLY Rewards
- Week 4: 1,250 $RLY Rewards
- TOTAL = 5,000 $RLY Rewards
Currently Rally Rewards will be claimable every week on Saturday afternoons PST. Eventually, as part of completing the rollout of Rewards V3, Rewards will be made claimable every day. There is currently no anticipated rollout date for daily distributions but we will notify the community ahead of the changes going live.
You can claim your rewards any time once they become claimable.
If you see the claim button grayed out or with a progress gradient, that means you are currently accumulating rewards and they are not claimable at the moment. There is a countdown timer to indicate how much time there is remaining until you can claim your rewards. See example below:
Yes, a person can earn rewards for every community whose Creator Coin they own.
Yes - in your portfolio, on the right panel, you will see a breakdown of how many total $RLY rewards you have earned per Coin.
Yes, the claim button on every Coin page will read “Claim All Rewards” when your rewards accumulation is complete for that week. Clicking this button will claim all your $RLY Rewards for all Coins so you just need to claim it once per week. See example below:
Your claimed rewards will be added to your wallet after you claim. It can take some time to show up in your account - try refreshing the page or check back after a couple of hours if it is still not showing up. If they do not show up after 24 hours, please email [email protected]
No. Some Coins may not be eligible for Rally Rewards, either because the Creator has opted out or because the Coin did not meet the minimum activity metrics required for eligibility.
While we don't publish specific metrics, overall we look for indicators of a healthy Coin economy including creator and community participation, growth and commerce. Coins can become eligible again should their activity rise above the minimum bar, and eligibility is reviewed on a monthly basis.
No, if an account is suspended for any reason, that account is not eligible to earn rewards during the term of the suspension.
With Rewards V3 we removed the 4-week rolling average from the eligibility calculation. We did this based on creator feedback, with the goal of rewarding and incentivizing more positive behavior for Coins and their communities. Additionally, the more consistent earning under V3 should balance out slightly lower weekly amounts overtime.
By removing the rolling average, almost all Coins became eligible for Rewards. This had the effect of dividing the same amount of $RLY across more tokens, driving earnings for some Coins down. To mitigate this effect, we introduced a new eligibility threshold determined by looking at a mix of healthy economy activity metrics. We will continue to review these metrics on a monthly basis, and improve upon the formula, ensuring that only active communities are earning Rewards.
At the individual level, there are a number of factors to consider if you are getting less Rewards:
- The Coin you hold is earning less.
- Your percentage holdings of a Coin’s circulating supply is smaller than it had been.
- One or more of the Coins you hold is no longer eligible for Rewards.
- There were less Rewards distributed overall.
We’ve always used a square root function (see archive post on Rewards V2), it is not new to Rewards V3. Square rooting is a typical way (in finance, in forecasting, in voting) to mitigate a winner-take-all effect. The square root function is used by Rally to help shift some of the rewards to smaller communities who typically have lower base levels of $RLY backing them. What is important to know is that top creators are still collecting top rewards, directly correlating to $RLY backing.